Global air express growth has consistently outpaced general freight and airmail, and currently accounts for 17% of international air cargo traffic. Fueled by cross border e-commerce, shipment growth has accelerated in the past 5 years to 7.6%, but in our recent Air Express Market Outlook, we predict more moderate growth and increased pressure on yields going forward.
In 2019, we expect shipment growth of 3.3% and an average of 5.0% for the next five years (see Figure 1). This compares to an expected decline in overall air cargo traffic of about 3-4% in 2019, and longer-term growth of just under 4%.
Figure 1 – International Express Shipment Forecast 1998-2024
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